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Ecosystem

Trade Republic Launches In-House Market Making After PFOF Ban

Trade Republic has overhauled its trading infrastructure following the EU ban on payment for order flow, launching its own market-making operation while adding direct access to 30 global exchanges. Using its Systematic Internaliser licence, the broker will internalize eligible client trades, hedge residual risk and replace PFOF revenue with bid-offer spread income. The platform will continue charging a €1 flat trading fee, offer optional direct exchange routing for €2, and introduce a new desktop terminal aimed at more active investors.

At a glance
Beat
Ecosystem
Issuer
Trade Republic
Region
Europe
Filed
7 July 2026

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